The WRAP process can be useful when making decisions when planning for retirement. While you can still have bad outcomes, the focus is placed on the analysis rather than the results.
Tag Archives: Retirement Planning
Investing for Retirement
Developing and adhering to a sound investment strategy is essential in retirement. This strategy will likely look different than the one you used during your accumulation years. You must find a balance between today’s spending needs and those of the future if you plan on maintaining your standard of living throughout retirement.
Inflation’s Impact on Your Retirement
Inflation is yet another risk you may face in retirement, though its effects may not be felt for many years. With smart planning and prudent investing, there are ways to attempt to mitigate its effects on your purchasing power.
Engineering Your Retirement Income
Retirees today have access to more free information and resources than ever before. The issue now is not access but rather the accuracy of the information and mistakes can be costly. Understanding the information and actually implementing the recommendations from that information are two different skills.
Preventative Maintenance for Your Retirement Portfolio
Putting your investing on autopilot is often a useful strategy when you are accumulating assets, but as you approach retirement, your portfolio could likely benefit from regular monitoring and these adjustments.
How Large Does Your Nest Egg for Retirement Need to Be?
The Rule of 25 is far from perfect, but it can be a good way to get a rough figure on the size of the nest egg you will need for retirement.
Four Undervalued Retirement Strategies
These items may not be appealing but can be beneficial when incorporated into your retirement plan. Even if you decide against using these strategies it would be prudent to explore their potential benefits.
Confidence in the Uncertainty of Retirement
We have no idea what your future in retirement will hold or what the economy will look like but the core principles and saving, investing, and prudent preparedness will remain the same.
The Practice of Financial Planning
You can make creating a financial plan an event, something that you do once, where you place the resulting binder on a shelf to remind you of its completion. Or you could make financial planning a practice where you regularly review your plan and make informed decisions and adjustments as life plays out.
Specificity in Investing
In training and investing, we are dealing with limited resources and have to find balance and make compromises as a means of achieving our set objective.